Band Capital, a decentralized finance (DeFi) startup backed by Sequoia India, has announced the launch of its mainnet on Monday along with a decentralized application (DApp) - BitSwing - to offer Bitcoin binary options trading.
First reported by The Block, the DApp will allow traders to take either long or short positions on Bitcoin prices in a BTC/USD market. Initially, the positions can be taken for an interval of one minute, however, the firm has plans to expand the prediction window, along with the addition of other digital currencies.
To trade the Ether-denominated binary options, traders need to use Metamask or any other Web3 wallets that operated on the Ethereum-based Kovan testnet. With the simplified prediction on Bitcoin prices, traders will either double their amount of Ether put in or lose it all.
Prior to the launch, the company released BitSwing’s testnet for a week which recorded over 40,000 transactions, the company detailed.
To provide reliable price data to the users, the company is sourcing it from exchanges like CoinGecko, Binance, and Upbit.
A lucrative market for crypto price prediction
Prior to the launch of its Blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term, the blockchain company earned $12,000 in ETH from data query fees in its first two weeks. Going at this rate, it is expected to generate “over $300,000 in value per annum for its ecosystem via BitSwing alone.”
Founded in 2017, Band Capital raised $3 million in February in a fundraising round led by Sequoia India. The company last month conducted a token sale on Binance’s Initial Exchange Offering (IEO)
Initial Exchange Offering (IEO)
An Initial Exchange Offering, or IEO, is a method of fundraising in which a cryptocurrency company issues and sells tokens through a cryptocurrency exchange. Unlike Initial Coin Offerings (ICOs), an IEO is instead administered by a crypto exchange on behalf of the startup that is looking to raise funds with its newly issued tokens.As such, an investor must make an account on the exchange that is holding the token sale and send cryptocurrency into that account. Therefore, the Know-Your-Customer (KYC) checks that occur when a user makes an account on an exchange also apply to the token sale.Since a token sale is conducted on the exchange’s platform, token issuers also are responsible for paying a listing fee along with a percentage of the tokens sold during the IEO. In return, the tokens of the crypto startups are sold on the exchange’s platforms, while their coins are listed after the IEO is over. As the crypto exchange takes a percentage of the tokens sold by the startup, the exchange is incentivized to help with the token issuer’s marketing operations. Overall, IEO participants do not send contributions to a smart contract, as is the case with an ICO. Rather, they have to create an account on the exchange’s platform where the IEO is conducted. The contributors then fund their exchange wallets with coins and use those funds to buy the fundraising company’s tokens.Are IEOs the Future?IEOs are generally considered to be a safer method of investing than ICOs because of the fact that cryptocurrency exchanges take care of due diligence for investors. Projects are thoroughly vetted before they can be eligible for an IEO. Because an exchange’s reputation hinges on the fact that the token sales that they facilitate are legitimate, investors in IEOs can enjoy a higher level of confidence in the tokens that are bought through IEOs than ICOs. However, investors are highly recommended to do their own thorough research.
An Initial Exchange Offering, or IEO, is a method of fundraising in which a cryptocurrency company issues and sells tokens through a cryptocurrency exchange. Unlike Initial Coin Offerings (ICOs), an IEO is instead administered by a crypto exchange on behalf of the startup that is looking to raise funds with its newly issued tokens.As such, an investor must make an account on the exchange that is holding the token sale and send cryptocurrency into that account. Therefore, the Know-Your-Customer (KYC) checks that occur when a user makes an account on an exchange also apply to the token sale.Since a token sale is conducted on the exchange’s platform, token issuers also are responsible for paying a listing fee along with a percentage of the tokens sold during the IEO. In return, the tokens of the crypto startups are sold on the exchange’s platforms, while their coins are listed after the IEO is over. As the crypto exchange takes a percentage of the tokens sold by the startup, the exchange is incentivized to help with the token issuer’s marketing operations. Overall, IEO participants do not send contributions to a smart contract, as is the case with an ICO. Rather, they have to create an account on the exchange’s platform where the IEO is conducted. The contributors then fund their exchange wallets with coins and use those funds to buy the fundraising company’s tokens.Are IEOs the Future?IEOs are generally considered to be a safer method of investing than ICOs because of the fact that cryptocurrency exchanges take care of due diligence for investors. Projects are thoroughly vetted before they can be eligible for an IEO. Because an exchange’s reputation hinges on the fact that the token sales that they facilitate are legitimate, investors in IEOs can enjoy a higher level of confidence in the tokens that are bought through IEOs than ICOs. However, investors are highly recommended to do their own thorough research.
Read this Term) platform. After selling $5.85 million worth tokens, the total capital raised by the company touched $10.85 million.
Recently, DeFi startups are gaining much attention in the market and major platforms are also jumping in to support such projects. In August, Huobi Wallet added support for two decentralized finance (DeFi) projects – Compound and MakerDao.
Band Capital, a decentralized finance (DeFi) startup backed by Sequoia India, has announced the launch of its mainnet on Monday along with a decentralized application (DApp) - BitSwing - to offer Bitcoin binary options trading.
First reported by The Block, the DApp will allow traders to take either long or short positions on Bitcoin prices in a BTC/USD market. Initially, the positions can be taken for an interval of one minute, however, the firm has plans to expand the prediction window, along with the addition of other digital currencies.
To trade the Ether-denominated binary options, traders need to use Metamask or any other Web3 wallets that operated on the Ethereum-based Kovan testnet. With the simplified prediction on Bitcoin prices, traders will either double their amount of Ether put in or lose it all.
Prior to the launch, the company released BitSwing’s testnet for a week which recorded over 40,000 transactions, the company detailed.
To provide reliable price data to the users, the company is sourcing it from exchanges like CoinGecko, Binance, and Upbit.
A lucrative market for crypto price prediction
Prior to the launch of its Blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term, the blockchain company earned $12,000 in ETH from data query fees in its first two weeks. Going at this rate, it is expected to generate “over $300,000 in value per annum for its ecosystem via BitSwing alone.”
Founded in 2017, Band Capital raised $3 million in February in a fundraising round led by Sequoia India. The company last month conducted a token sale on Binance’s Initial Exchange Offering (IEO)
Initial Exchange Offering (IEO)
An Initial Exchange Offering, or IEO, is a method of fundraising in which a cryptocurrency company issues and sells tokens through a cryptocurrency exchange. Unlike Initial Coin Offerings (ICOs), an IEO is instead administered by a crypto exchange on behalf of the startup that is looking to raise funds with its newly issued tokens.As such, an investor must make an account on the exchange that is holding the token sale and send cryptocurrency into that account. Therefore, the Know-Your-Customer (KYC) checks that occur when a user makes an account on an exchange also apply to the token sale.Since a token sale is conducted on the exchange’s platform, token issuers also are responsible for paying a listing fee along with a percentage of the tokens sold during the IEO. In return, the tokens of the crypto startups are sold on the exchange’s platforms, while their coins are listed after the IEO is over. As the crypto exchange takes a percentage of the tokens sold by the startup, the exchange is incentivized to help with the token issuer’s marketing operations. Overall, IEO participants do not send contributions to a smart contract, as is the case with an ICO. Rather, they have to create an account on the exchange’s platform where the IEO is conducted. The contributors then fund their exchange wallets with coins and use those funds to buy the fundraising company’s tokens.Are IEOs the Future?IEOs are generally considered to be a safer method of investing than ICOs because of the fact that cryptocurrency exchanges take care of due diligence for investors. Projects are thoroughly vetted before they can be eligible for an IEO. Because an exchange’s reputation hinges on the fact that the token sales that they facilitate are legitimate, investors in IEOs can enjoy a higher level of confidence in the tokens that are bought through IEOs than ICOs. However, investors are highly recommended to do their own thorough research.
An Initial Exchange Offering, or IEO, is a method of fundraising in which a cryptocurrency company issues and sells tokens through a cryptocurrency exchange. Unlike Initial Coin Offerings (ICOs), an IEO is instead administered by a crypto exchange on behalf of the startup that is looking to raise funds with its newly issued tokens.As such, an investor must make an account on the exchange that is holding the token sale and send cryptocurrency into that account. Therefore, the Know-Your-Customer (KYC) checks that occur when a user makes an account on an exchange also apply to the token sale.Since a token sale is conducted on the exchange’s platform, token issuers also are responsible for paying a listing fee along with a percentage of the tokens sold during the IEO. In return, the tokens of the crypto startups are sold on the exchange’s platforms, while their coins are listed after the IEO is over. As the crypto exchange takes a percentage of the tokens sold by the startup, the exchange is incentivized to help with the token issuer’s marketing operations. Overall, IEO participants do not send contributions to a smart contract, as is the case with an ICO. Rather, they have to create an account on the exchange’s platform where the IEO is conducted. The contributors then fund their exchange wallets with coins and use those funds to buy the fundraising company’s tokens.Are IEOs the Future?IEOs are generally considered to be a safer method of investing than ICOs because of the fact that cryptocurrency exchanges take care of due diligence for investors. Projects are thoroughly vetted before they can be eligible for an IEO. Because an exchange’s reputation hinges on the fact that the token sales that they facilitate are legitimate, investors in IEOs can enjoy a higher level of confidence in the tokens that are bought through IEOs than ICOs. However, investors are highly recommended to do their own thorough research.
Read this Term) platform. After selling $5.85 million worth tokens, the total capital raised by the company touched $10.85 million.
Recently, DeFi startups are gaining much attention in the market and major platforms are also jumping in to support such projects. In August, Huobi Wallet added support for two decentralized finance (DeFi) projects – Compound and MakerDao.
